Today's Sector View – 27.12.2018
* AUTOMOBILE: Honda Cars India, the maker of City sedan, has posted a profit of 2.57 bln rupees for yearended March 2018, led by higher sale of its sedans and the newly launched crossover sport utility vehicle WRV. The carmaker had bounced back to profit in 2017-18 (Apr-Mar), after posting a loss of 227.2 crore in 2016-17.
* BANKING: The Reserve Bank of India has sent show-cause notices to a number of large payment players, including global payment service providers, for not fully complying with its norms on data storage on Indian payments within the country. The Reserve Bank of India is learnt to have allowed the National Housing Bank to raise its refinance limit to 500 bln rupees from 300 bln rupees for its current financial year that started on Jul 1.
* E-COMMERCE: In a major jolt to Walmart's $16-bln acquisition of Flipkart and Amazon's $5-bln bet on India, the government announced changes to the foreign direct investment policy for the e-commerce sector that could trigger a shakeup in the way leading platforms such as Amazon and Flipkart conduct business in the country.
* METALS: Commerce ministry is in favour of hiking import duty on aluminium with a view to support domestic manufacturers, Union Minister Suresh Prabhu said. India has challenged the World Trade Organisation dispute panel's ruling that the country's move to impose safeguard duty on some iron and steel products was inconsistent with certain global trade norms.
* OIL AND GAS: The LPG infrastructure of the country is set to get a major leg-up as the oil marketing companies will soon have 60 new bottling plants, which are to be set up and operated by private players.
* PHARMACEUTICALS: Corporate bosses at e-pharmacies are hopeful that the Centre will issue regulations in two weeks to resolve the uncertainty in the sector, created by contrary orders from the high courts of Delhi and Madras.
* TELECOMMUNICATION: The telecom regulator is looking at ways to lower base price at which bids will be sought for airwaves in future auctions, as it seeks to move away from its practice of mechanically hiking starting price in successive sale.
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* BANKING: The Reserve Bank of India has sent show-cause notices to a number of large payment players, including global payment service providers, for not fully complying with its norms on data storage on Indian payments within the country. The Reserve Bank of India is learnt to have allowed the National Housing Bank to raise its refinance limit to 500 bln rupees from 300 bln rupees for its current financial year that started on Jul 1.
* E-COMMERCE: In a major jolt to Walmart's $16-bln acquisition of Flipkart and Amazon's $5-bln bet on India, the government announced changes to the foreign direct investment policy for the e-commerce sector that could trigger a shakeup in the way leading platforms such as Amazon and Flipkart conduct business in the country.
* METALS: Commerce ministry is in favour of hiking import duty on aluminium with a view to support domestic manufacturers, Union Minister Suresh Prabhu said. India has challenged the World Trade Organisation dispute panel's ruling that the country's move to impose safeguard duty on some iron and steel products was inconsistent with certain global trade norms.
* OIL AND GAS: The LPG infrastructure of the country is set to get a major leg-up as the oil marketing companies will soon have 60 new bottling plants, which are to be set up and operated by private players.
* PHARMACEUTICALS: Corporate bosses at e-pharmacies are hopeful that the Centre will issue regulations in two weeks to resolve the uncertainty in the sector, created by contrary orders from the high courts of Delhi and Madras.
* TELECOMMUNICATION: The telecom regulator is looking at ways to lower base price at which bids will be sought for airwaves in future auctions, as it seeks to move away from its practice of mechanically hiking starting price in successive sale.
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